Skip to content

Is it too late to buy Bitcoin? BTC market cap equals only 0.1% of global wealth

Is it too late to buy Bitcoin? BTC market cap equals only 0.1% of global wealth

Although the cryptocurrency market is currently going through a difficult period, some investors are predicting a bright future for its largest asset, Bitcoin (BTC), and many are hoping to accumulate as much as possible before it is too late.

Circumstances seem to be working in their favor as Bitcoin’s market capitalization currently equals only 0.1% of the total global wealth, according to the data retrieved on September 14 from the analytics platform PricedInBitcoin21, which denominates and tracks various assets in Bitcoin.

Specifically, the total global wealth at press time stood at an estimated $418.3 trillion, whereas the market cap of Bitcoin was close to $390 billion, as per combined PricedInBitcoin21 and CoinMarketCap data.

BTC market cap equals 0.1% of global wealth. Source: PricedInBitcoin21

Bitcoin vs. global wealth and U.S. banks’ assets

Compared to the assets of the commercial banks headquartered in the United States, the ratio is slightly higher, as Bitcoin’s market cap equates to 1.7% of the U.S. commercial banks’ holdings expressed in USD.

BTC market cap equals 1.7% of the assets of the U.S. commercial banks. Source: PricedInBitcoin21

It is also worth noting that Bitcoin is recording astronomical five-year return rates, dwarfing other asset classes, including the stocks of five leading banks, despite its pronounced volatility and significant sell-offs, according to the data from the Finbold ROI tool.

Investor interest and price analysis

On top of that, in the opinion of the professional crypto trader and analyst Josh Rager, Bitcoin is set to have a significant rally in 2024, just after its next halving event, roughly every four years.

Meanwhile, investor interest in buying Bitcoin has remained low in comparison to when the asset’s value was rising, as investors are waiting for a potential bottom – a scenario that might motivate more people to buy the dip.

At press time, the price of the maiden cryptocurrency stood at $20,296, indicating a 4.36% drop on the day, but still a 7.69% increase across the previous seven days, according to CoinMarketCap data.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.